This is the first stock I've seen where there wasn't a massive run up in the share price leading up a major event. The drilling of Artemis is a very major event.
Look at PEP11 stocks they're all going crazy pricewise and now they have their own HC thread. Nobody even knows when they're going to drill. Maybe sometime in December? It's been delayed that often.
To those they will say MEO's share price has already risen substantially, well NXS has risen the same amount on no announcements. Last year when MEO was 80c, NXS was struggling to get past 40c.
To me it seems a tight leash has been kept on MEO's share price. Everytime it looks like a major breakout the price gets slammed down. The way MEO's share price is going if they do hit gas at Artemis it may still struggle to get past $1. I think at that price or less then Petrobras will pounce.
I don't know whether the share price is being kept down or whether the market has no confidence in Artemis.
MEO Price at posting:
56.5¢ Sentiment: Buy Disclosure: Held
